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Business - Ethics, Governance &
Risk
June 2023 Examination
Note: This assignment is application based, you have to apply what you
have learnt in this subject into real life scenario. You will find most of the
information through internet search and the remaining from your common sense.
None of the answers appear directly in the textbook chapters but are based on
the content in the chapters, directly or indirectly.
1.
What is the ethical principle that underpins risk management concept and
how does a listed company’s board manage enterprise risk? Explain with the help
of an example from the annual report of any ONE listed co (from NSE top 500
companies by market capitalization) the key initiative taken by the selected
company in FY2021-22 to manage ONE financial risk and ONE non-financial
risk. (10 Marks)
Answer: The ethical principle that underpins risk management concept is the
principle of integrity. Integrity refers to being honest and transparent in all
business dealings and ensuring that all stakeholders' interests are protected.
In the context of risk management, integrity means being transparent about the
risks a company faces, and taking steps to manage those risks in an ethical and
responsible manner.
The board of a
listed company is responsible for managing enterprise risk, which refers to the
risks that impact the company as a whole. The board's primary responsibility is
to identify the risks that the company faces, evaluate their potential
2.
From the Sustainability Report (FY2021-22 or 2022-23) OR Business
Responsibility & Sustainability Report (FY2021-22 or 2022-23 Annual report)
of any one listed company from across the globe, select any ONE Carbon Emission
reduction initiative adopted and practiced by the company. Explain the
initiative in your own words and analyse if it is effective/outcome driven or
not, if yes provide quantitative proof for the same. (No diagram/graphic or
table required). (10 Marks)
Answer: I have selected the Sustainability Report 2021-22 of Unilever, a British
multinational consumer goods company, for this question.
One Carbon
Emission reduction initiative adopted and practiced by Unilever is their
science-based targets. In 2015, Unilever became one of the first companies to
commit to the Paris Agreement's goal of limiting global temperature rise to 1.5
3. a. ‘Professionals such as doctors,
accountants and lawyers have a charter/framework of code of conduct, duties and
obligations that other people do not.’ Why is that so? Present your point of
view with its supporting arguments/reasons. (Two points of view/reasons with
explanation is good enough) (5 Marks)
Answer: There are several reasons why professionals such as doctors, accountants,
and lawyers have a charter/framework of code of conduct, duties, and
obligations that other people do not. Here are two points of view with their
supporting arguments/reasons:
- Specialized
Knowledge and Expertise: Professionals like doctors, accountants, and
lawyers possess specialized knowledge and expertise that the general
public does not have. This knowledge comes from years of
3. b. Choose any one ethical principle
from the below list and with the help of a day-to-day work place process or
practice showcase how your company/ any company delivers/ does not deliver on
the chosen ethical principle. List of ethical principles: Transparency,
Fairness, Responsiveness, Dignity. (5 Marks)
Answer: I choose the ethical principle of fairness, which refers to treating all
individuals with impartiality and without discrimination. Here's how a company
can deliver or not deliver on the principle of fairness through a day-to-day
workplace process or practice:
Example:
Recruitment Process
Delivering on
fairness in recruitment process: A company can deliver on fairness in
recruitment process by implementing a standard and unbiased recruitment process.
This means all candidates are treated equally and assessed based on their
skills and qualifications, regardless of their gender, ethnicity, or other
personal characteristics. This process can involve setting up a job description
and selection criteria, which are applied consistently to all applicants,
conducting structured interviews with predetermined questions and rating
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